Slate Magazine
•63% Informative
Adam Neumann , co-founder and former CEO of WeWork , is reportedly trying to buy his old company out of bankruptcy.
The New York Times reports that Neumann has the backing of hedge funder Dan Loeb .
The Times says Neumann could get the company for a fraction of its debts, maybe about $500 million .
WeWork founder stepped down under pressure in 2019 , but WeWork didn’t slide into bankruptcy until 2023 .
WeWork went public not as anything near the $47 billion company it once was on paper, but still as a valuable business.
It's possible that WeWork ’s current management sees Neumann as a goofball and does not think he will put together a workable deal.
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